A store that sells bath oils,natural sponges,and other related items has an average retail inventory of $15,000.Its net sales for last year were $62,000,total assets were $500,000 and its net profit was $9,000.Calculate the retailer's inventory turnover.
A) 33.33
B) 8.06
C) 4.13
D) 6.89
E) 24.2

Question

Quizplus · Accepted Answer

Net Sales/Average Retail Inventory = $62,000/$15,000.

A Store That Sells Bath Oils,natural Sponges,and Other Related Items